News Column

Samsung stock tanks on mobile fears

August 1, 2014

Samsung Electronics yesterday reported its worst quarterly profit in two years and flagged uncertain profit prospects for its key handset business, fuelling worries about its ability to return to growth. The downbeat guidance put the shares of South Korea's biggest company by market value on track for its worst share drop in eight months with a 3.7 per cent fall. For April-June, Samsung said operating profit fell 24.6 per cent annually to 7.2 trillion won (4.16bn), matching its guidance.

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Source: City A.M. (UK)

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